Expat Living in Armenia
While Armenia may be a small country it has become a popular destination for expats and retirees alike. Why do you ask? It offers more than just banking and asset protection, Armenia is safe, affordable, and has a high standard of living. Not to mention, plenty of natural beauty and hospitality. So read on and we will explain why you should consider living in Armenia.
Located between Europe and Asia, Armenia is rich in history and was the first country to adopt Christianity. Even though Armenia was occupied at times by different empires such as the Sassanians and Seljuk Turks, its unique cultural heritage and homogeneity has endured. Not to mention, plenty of buildings and architecture that have endured for over 1,000 years. If you like archaeology, history, and culture, you will love Armenia.
Unlike many of the post-Soviet countries, Armenia has a reputation for safety. The crime stats are well below the regional average and the capital of Yerevan is regarded as one of the safest cities in Europe. Violent crimes and mass shootings are practically unheard here. Aside from the occasional pickpocketing, you can feel safe walking around most parts of the city even at night. Moving outside of Yerevan, crime is virtually non-existent, and it is an area where you can think of everyone as your neighbor. This is a nice touch that is often lost in many countries.
Affordable Life
Armenia is not only safe, but affordable. In fact, these are the main reasons why the country has seen an influx of foreigners of digital nomads the last few years. You can live comfortably for $1,000/month, including rent. For example, a small apartment in a nice part of Yerevan can be found for as little as $300/month and food expenses rarely top that. A nice dinner for two usually runs about $30 with a taxi fare costing no more than a few dollars. Of course, actual expenses vary by person, but suffice to say there are few countries in the world that can be compared to Armenia when it comes to affordability and safety.
Friendly People
Armenians have a well-deserved reputation when it comes to hospitality and foreigners are welcomed and treated like family. People are warm, friendly, and always willing to strike up a conversation. In fact, it might even lead to being invited for dinner. In short, you can think of Armenia as a big family. That is the type of hospitality you can expect here.
Natural Beauty
While Armenia may disappoint beach lovers (it is a landlocked country after all), it makes up for it in scenery. There are plenty of mountains with scenic views and all of this is just a short trip outside the city. You can spend a quiet day outside by the lake, go hiking, or skiing. Of course, the mountainous terrain is not only beautiful, but perfect for wine making. Armenia is known for its fine wine that rivals anything from France. Not only that, but it is home to one of the oldest wineries in the world.
A Laid-Back Lifestyle
Perhaps the best of both worlds and part of that is due to a homogenous population that has managed to retain its cultural identity. However, at the same time it has been shaped by Armenians living abroad and when they return home, they bring many of those customs with them. For example, if you go to a restaurant or a store you can expect to receive the level of service (and quality) you would in New York or Paris, albeit with a touch of Armenian hospitality. Not to mention, much cheaper.
Average Monthly Expenses in Yerevan
This of course is not an inclusive list, but it highlights what you can expect to pay on average for some basic products and services. Keep in mind, your actual expenses will vary depending on your lifestyle and preferences.
Food |
USD |
Milk |
$.92/liter |
Rice |
$1.42/kg |
Eggs |
$1.65/dozen |
Cheese (local) |
$4.59/kg |
Apples |
$.96/kg |
Banana |
$1.34/kg |
Chicken fillet |
$4.36/kg |
Loaf of white bread |
$.51/500g |
Oranges |
$1.33/kg |
Tomato |
$1.20/kg |
Potato |
$.48/kg |
Onion |
$.57/kg |
Beer (domestic) |
$.92/.5l |
Wine (mid-range) |
$6.02 |
Transportation |
USD |
Local bus fare |
$.20 |
Taxi fare (starting) |
$1.20 |
Taxi fare per km |
$.20 |
Gasoline |
$.81/liter |
Utilities |
USD |
Heating/Electricity/Air
Conditioning/Water |
$71.63/month |
Internet (60 Mbps) |
$16.95/month |
Housing |
USD |
1 bedroom apartment in the city center |
$384/month |
1 bedroom apartment outside the city |
$207/month |
3 bedroom apartment in the city center |
$769/month |
3 bedroom apartment outside the city |
$364/month |
Purchase price per square meter (in the
city) |
$1791 |
Purchase price per square meter outside
the city |
$935 |
Source: All figures from Numbeo in July of 2021.
As you can see, a single person can live comfortably on $1,000/month in Yerevan. Obviously, for couples there will be additional expenses but $2,000 is more than enough. There are only a few places in the world that offer this standard of living for the price. In fact, in many major cities in Europe and the US, $1,000/month is not even enough for a small 1-bedroom apartment. For anyone who works online, high-speed internet is cheap and widely available in Yerevan. Not to mention, plenty of cafes where you can spend the day.
The Pros and Cons
While there are a lot of positives to living in Armenia it is only fair to point out that there are some negatives (as to be expected). However, we can assure you the pros outweigh the cons. Among them are being a landlocked country with borders that are closed to two of its four neighbors (Azerbaijan and Turkey). This does complicate land travel to some extent as the only options are through Georgia and Iran and the latter may not be ideal for some. As such, the main route is through Georgia.
Lastly, there is the language barrier. Armenian is the official language and English is not widely spoken. However, many Armenians speak Russian but outside of that, communication can be challenging.
Who is Armenia For?
Armenia is a popular destination for digital nomads from Europe and Russia, especially those working in the IT and tech sectors. As this industry has been the driver of economic growth over the last decade, many have moved here in search of jobs. More recently, many retirees have been relocating to Armenia thanks to the safety, quality of life, and low cost of living.
Armenia has many benefits aside from the safety and low cost of living. It is a good place for families to live with free education and a good public healthcare system. Medical insurance is also quite cheap, around $200 annually for a decent coverage. Private education, while not free, is considerably cheaper than in many countries. In addition, many schools teach English as a second language.
Lastly, there are tax and asset protection benefits as well. Foreign-sourced income generally should be taxed for Armenian tax residents, although in practice there is practically no enforcement and there is no general duty to file annual tax returns. Income, such as capital gains from selling property, shares, income from insurance, pensions, etc. are tax-exempted, irrespective of its source (Armenia or abroad).
All banks accept foreign currency deposits, and there are strict banking secrecy laws. Not to mention, citizenship can be obtained in as little as three years. These are just a few of the reasons why Armenia has become a popular second home for many.
$170,000
$2,500,000
$350,000
$1,400,000
$395,000
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